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Jun 30, 2023
Olin Q2 2023 Earnings Report
Announced second quarter 2023 results, reporting a net income of $146.9 million and adjusted EBITDA of $351.1 million.
Key Takeaways
Olin Corporation reported a net income of $146.9 million, or $1.13 per diluted share, for the second quarter of 2023. Adjusted EBITDA for the quarter was $351.1 million. The company expects full year adjusted EBITDA to be in the range of $1.4 billion.
Second quarter 2023 net income was $146.9 million, or $1.13 per diluted share.
Adjusted EBITDA for the second quarter 2023 was $351.1 million.
Share repurchases totaled $186.9 million in the second quarter 2023.
The company expects 2023 adjusted EBITDA to be in the $1.4 billion range.
Olin
Olin
Olin Revenue by Segment
Revenue by Segment
Chlor Alkali & Vinyls Revenue
CapyFin.comEpoxy Revenue
CapyFin.com Forward Guidance
Olin expects third quarter 2023 results from its Chemical businesses to be lower than second quarter 2023 levels due to the difficult global economic environment and continued operating issues with the vinyl chloride monomer Freeport, Texas facility. Winchester business third quarter 2023 results are expected to increase sequentially from second quarter 2023 as international and domestic military growth is anticipated. Overall, Olin expects third quarter 2023 adjusted EBITDA to be approximately 10% lower than second quarter 2023 levels. Olin expects full year adjusted EBITDA to be in the range of $1.4 billion.
Positive Outlook
- Winchester business third quarter 2023 results are expected to increase sequentially from second quarter 2023.
- International and domestic military growth is anticipated.
- Olin expects full year adjusted EBITDA to be in the range of $1.4 billion.
- Prioritizing share repurchases from excess cash flow
- Maintaining commercial discipline and “value-first” approach
Challenges Ahead
- Difficult global economic environment
- Continued operating issues with the vinyl chloride monomer Freeport, Texas facility
- Third quarter 2023 results from Chemical businesses are expected to be lower than second quarter 2023 levels
- Olin’s third quarter 2023 adjusted EBITDA is expected to be approximately 10% lower than second quarter 2023 levels.
- Challenging demand environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income